Robots could take the jobs of one in three working aged men by 2050, according to a new study that describes its findings as 'catastrophic'.

Unskilled, low-wage jobs of men between 25 and 54 will be the first to be replaced, says the Washington-based think tank behind the report.

The rate of unemployment in the US could reach 50 per cent for individuals of a certain demographic such as young African American males, researchers warned.

Last year a report found that as many as 800 million workers could be replaced by machines in just 13 years.

Such statistics make worrying news for workers around the world whose jobs may be at similar risk from the rise of intelligent machines.

Jobs that don't require advanced education will be the first to be replaced by automation, say the Brookings Institution.

'Schools need to change their curriculum so that students have the skills needed in the 21st century economy', Darrell West, vice president of the think tank and author of 'The Future of Work: Robots, AI and Automation' told Market Watch.

Already 12 per cent of US working aged men are unemployed and that number could triple in the next 30 years.

'That, my friends, is a catastrophe,' Mr West added.

In his new book, Mr West quotes Andrew Puzder, former CEO of Hardee's parent company CKE.

He comments that digital devices are 'always polite, they always upsell, they never take a vacation, they never show up late, there's never a slip-and-fall, or an age, sex or race discrimination case.'

Just last week a report revealed that five robots had replaced seven employees at a Swiss bank in order to speed up workflow.

The robots were able to do the same work as a human employee but could work 24/7 without a break, making them overall more effective.

The pilot project at St. Galler Kantonalbank (SGKB) went so well the bank has decided to take on more robots at the end of this month.

Managing director of Nuremberg-based IT consultant Roboyo GmbH said the question of automation is currently a 'huge topic' in financial services.

He said his company is working with banks, insurers and leasing companies who want to save time and money.

A study by GFT Technologies SE in 2017 found that technologies and artificial intelligence could revolutionise the financial sector.

Researchers carried out a survey of 285 professionals from retail banks in eight countries.

They found 94 per cent of participants said artificial intelligence directly added value to their company.